AT&T Announces Withdrawal of Union Lawsuit

Apr 11, 2001, 01:00 ET from AT&T

    NEW YORK, April 11 /PRNewswire/ -- AT&T today announced that the CWA has
 agreed to withdraw the lawsuit it filed, together with the AFL-CIO and
 Amalgamated Bank, against AT&T last month in the Supreme Court of New York.
 The suit was aimed at stopping the company from amending its charter to
 require a simple majority vote of shareowners to approve certain proposals,
 rather than a two-thirds majority.
     The charter amendment is in keeping with shareowner voting procedures at
 most other companies.
     AT&T and the CWA also agreed to continue working together to improve the
 process of providing union members with access to opportunities across the
 company as it restructures into four businesses that will become publicly-held
 companies, trading as either a common stock or tracking stock.
     "This agreement will strengthen the traditionally good relationship
 between AT&T and the CWA," said C. Michael Armstrong, chairman and CEO of
 AT&T.  "And we plan to continue to improve our labor/management relationship
 in the future."
 
     The foregoing are "forward-looking statements" which are based on
 management's beliefs as well as on a number of assumptions concerning future
 events made by and information currently available to management.  Readers are
 cautioned not to put undue reliance on such forward-looking statements, which
 are not a guarantee of performance and are subject to a number of
 uncertainties and other factors, many of which are outside AT&T's control,
 that could cause actual results to differ materially from such statements.
 For a more detailed description of the factors that could cause such a
 difference, please see AT&T's filings with the Securities and Exchange
 Commission.  AT&T disclaims any intention or obligation to update or revise
 any forward-looking statements, whether as a result of new information, future
 events or otherwise.  This information is presented solely to provide
 additional information to further understand the results of AT&T.
 
     Logo: http://www.att.com/identity/library/
 
 

SOURCE AT&T
    NEW YORK, April 11 /PRNewswire/ -- AT&T today announced that the CWA has
 agreed to withdraw the lawsuit it filed, together with the AFL-CIO and
 Amalgamated Bank, against AT&T last month in the Supreme Court of New York.
 The suit was aimed at stopping the company from amending its charter to
 require a simple majority vote of shareowners to approve certain proposals,
 rather than a two-thirds majority.
     The charter amendment is in keeping with shareowner voting procedures at
 most other companies.
     AT&T and the CWA also agreed to continue working together to improve the
 process of providing union members with access to opportunities across the
 company as it restructures into four businesses that will become publicly-held
 companies, trading as either a common stock or tracking stock.
     "This agreement will strengthen the traditionally good relationship
 between AT&T and the CWA," said C. Michael Armstrong, chairman and CEO of
 AT&T.  "And we plan to continue to improve our labor/management relationship
 in the future."
 
     The foregoing are "forward-looking statements" which are based on
 management's beliefs as well as on a number of assumptions concerning future
 events made by and information currently available to management.  Readers are
 cautioned not to put undue reliance on such forward-looking statements, which
 are not a guarantee of performance and are subject to a number of
 uncertainties and other factors, many of which are outside AT&T's control,
 that could cause actual results to differ materially from such statements.
 For a more detailed description of the factors that could cause such a
 difference, please see AT&T's filings with the Securities and Exchange
 Commission.  AT&T disclaims any intention or obligation to update or revise
 any forward-looking statements, whether as a result of new information, future
 events or otherwise.  This information is presented solely to provide
 additional information to further understand the results of AT&T.
 
     Logo: http://www.att.com/identity/library/
 
 SOURCE  AT&T

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